namesignature specimenaddresswork placedate of birthnationalitytax identification number
nameaddresswork placedate of birthnationalitytax identification numbersignatureprofessionsource of fund
headquarters addresstax identification numbershareholder identificationboard of directors identification.
BI (ID Card)
Angola needs legislation to regulate electronic commerce; Data protection law is attached
Law no. 34/11 was issued on 12 Dec 2011 and Aviso Nº 21/2012 and Nº 22/2012 for financial institutions
Banco Nacional de Angola
Direcção Nacional de Investigação e Inspecção das Actividades Económicas do Comando Geral da Policia Nacional
There is a guide issued by the banking regulator
Law no. 34/11 does not make any reference to requirements to retrospectively verify the identity of customers before the date the new AML regime was introduced. This may be clarified in a regulation expected to be issued in the near future.
Yes. One-off transactions under USD15,000 (or equivalent in local currency). All cash operations equal or above USD15,000 should be reported to national authorities.
should provide a valid document with: full name, signature, address, profession and work place (when applicable), birth date, nationality, funds provenience and tax identification number
should provide a valid document with their deeds of incorporation or valid licence (certification should be made through the card Cartão de Identificação de Pessoa Colectiva or Certidão do
Registo Comercial), the headquarters address, tax identification number, shareholder identification if more than 20% of the voting rights, and board of directors identification.
Management Board and shareholder identification must occur if more than 20% of the voting rights are held. Identification and verification requirements for beneficial owners are the same as those for
Entities shall apply enhanced due diligence measures in respect of customers and transactions which by their nature or characteristics can present a higher risk of money laundering or terrorist financing.
A PEP relationship requires additional due diligence. When establishing a relationship with a non-resident PEP, the entities should have appropriate risk based procedures to determine whether the customer
is a PEP; have approval from senior management before establishing business relationships with such customers; take adequate measures to establish the source of wealth and funds involved in the
business relationship or occasional transactions; and conduct enhanced ongoing monitoring of the business relationship.
When establishing a relationship through correspondence with third country banks, this relationship must take into consideration the banks country and its AML risk, the analysis of the bank’s internal procedures regarding the international laws of anti-money laundering, the guarantee of information accuracy and the bank’s reputation. In addition, the financial institution should guarantee that the due diligence duty was observed.
Non face-to-face relationships (especially those that can favour anonymity) require additional due diligence. In such relationships, the institution should either ask for legal documentation as additional
documentation to verify/ certify the documentation provided by the customer. This may be provided by another financial institution or it can be requested that the first payment is made through an account
opened in the name of the customer with another financial institution.
anco Nacional de Angola and Direcção Nacional de Investigação e Inspecção das Actividades Económicas do Comando Geral da Policia Nacional .
Article 49 provides that breaches of regulations shall be punishable as follows: a) Where the offence is committed within the scope of activity of a financial entity: a. By a fine from USD25,000 to USD2.5m, (or the equivalent amount in local currency) where the offender is a legal person; or b. By a fine from USD12,500 to USD1.25m, (or the equivalent amount in local currency) where the offender is a natural person. b) Where the offence is committed within the scope of activity of a non-financial entity, with the exception of lawyers and solicitors: c. By a fine from USD5,000 to USD500,000, (or the equivalent amount in local currency) where the offender is a legal person; or d. By a fine from USD2,500 to USD250,000, (or the equivalent amount in local currency) where the offender is a natural person. Article 50 provides for the imposition of additional penalties.
due diligencelegal documentationfinancial institution
Every citizen of Angola aged from 10 years and above are required to posses an Identity Card.
Law no. 34/11 provides that, in compliance with identification and due diligence requirements, financial institutions can adapt the nature and scope of verification and due diligence procedures, taking into account the risk associated with the type of customer, the business relationship, the product, the type of transaction and the origin or the purpose of the funds.